Ashford Inc. amends CFO employment terms, raises salary to $700K; updates bylaws on nominations

Ashford Inc.

CFO Deric Eubanks' base salary increased to $700K; term through Dec 31, 2026 with automatic one-year renewals.
Cause definition expanded to include policy violations and material breaches; Company has sole discretion to determine.
Severance modified: COBRA premium reimbursement for 18 months; life/LTD insurance premium reimbursement for 24 months.
Non-solicitation extended to 2 years post-termination; new standstill clause prohibits M&A or proxy solicitation for 2 years.
Bylaws amended to require compliance with SEC Rule 14a-19 for stockholder nominations; enhanced advance notice disclosures.

Key facts

Extracted from this filing and checked against the source text.

Governance Changes SEC 8-K Item 5.03/5.05/5.06 confidence 0.9

Ashford Inc.: Amendments to Bylaws to update advance notice procedures, including compliance with Rule 14a-19 under the Exchange Act (effective 2023-08-24).

Change: bylaw amendment
Effective: 2023-08-24

Exact text from the filing

On August 24, 2023, the Board of Directors (the “ Board ”) of the Company approved amendments to the Amended and Restated Bylaws of the Company (the “ Bylaws ”), effective immediately.

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Source: SEC EDGAR

accession 0001604738-23-000049

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